Norges Bank Buys New Position in UiPath Inc. (NYSE:PATH)

Norges Bank purchased a new position in UiPath Inc. (NYSE:PATHFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,672,661 shares of the healthcare company’s stock, valued at approximately $165,749,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of UiPath by 7.6% in the 3rd quarter. Vanguard Group Inc. now owns 37,750,773 shares of the healthcare company’s stock worth $645,916,000 after purchasing an additional 2,673,718 shares during the period. Glenmede Trust Co. NA lifted its holdings in UiPath by 3,273.3% in the third quarter. Glenmede Trust Co. NA now owns 1,564,985 shares of the healthcare company’s stock worth $26,777,000 after buying an additional 1,518,592 shares during the period. Vestmark Advisory Solutions Inc. purchased a new position in shares of UiPath during the 4th quarter worth approximately $15,543,000. FMR LLC raised its position in shares of UiPath by 2.9% in the 3rd quarter. FMR LLC now owns 16,238,176 shares of the healthcare company’s stock worth $277,835,000 after acquiring an additional 463,032 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in shares of UiPath by 179.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 715,688 shares of the healthcare company’s stock valued at $12,245,000 after purchasing an additional 459,965 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Insider Buying and Selling

In other news, CFO Ashim Gupta sold 40,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $19.79, for a total value of $791,600.00. Following the transaction, the chief financial officer now directly owns 946,848 shares in the company, valued at $18,738,121.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders sold 96,000 shares of company stock valued at $2,023,440. Company insiders own 22.37% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on PATH shares. Morgan Stanley raised their price objective on UiPath from $17.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, March 14th. KeyCorp started coverage on shares of UiPath in a report on Monday, April 8th. They set an “overweight” rating and a $27.00 target price for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price objective on shares of UiPath in a research note on Monday, April 1st. Mizuho lifted their price target on UiPath from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. Finally, DA Davidson raised their price objective on shares of UiPath from $20.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, UiPath currently has a consensus rating of “Moderate Buy” and an average target price of $27.41.

Get Our Latest Stock Report on PATH

UiPath Stock Down 1.6 %

NYSE PATH opened at $19.59 on Thursday. UiPath Inc. has a 52 week low of $13.30 and a 52 week high of $27.87. The stock’s 50-day moving average price is $20.78 and its 200-day moving average price is $22.07.

UiPath (NYSE:PATHGet Free Report) last issued its quarterly earnings results on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.10. The business had revenue of $405.25 million for the quarter, compared to the consensus estimate of $383.32 million. UiPath had a negative net margin of 6.87% and a negative return on equity of 3.29%. On average, research analysts anticipate that UiPath Inc. will post -0.04 EPS for the current fiscal year.

UiPath Profile

(Free Report)

UiPath Inc provides an end-to-end automation platform that offers a range of robotic process automation (RPA) solutions primarily in the United States, Romania, the United Kingdom, the Netherlands, and internationally. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.

Read More

Want to see what other hedge funds are holding PATH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UiPath Inc. (NYSE:PATHFree Report).

Institutional Ownership by Quarter for UiPath (NYSE:PATH)

Receive News & Ratings for UiPath Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UiPath and related companies with MarketBeat.com's FREE daily email newsletter.